Editor's note: This brief was summarised by The Property AI Newsroom from a report by Property118. Read the original article for full details.

New Build Housing Developments Fall to Lowest Level Since 2017

The number of new-build housing developments coming to market in the UK has reached its lowest point since January 2017, according to a report by Property118. Rightmove findings indicate that not enough affordable homes are being built, and high mortgage rates are contributing to challenges for both buyers and developers.

Despite a government pledge to deliver 1.5 million homes, the supply of new-build properties has declined. The report highlights that the shortage of affordable homes is a significant issue, with current market conditions making it harder for potential buyers and developers alike.

For letting agents and inventory clerks, the reduced number of new-build developments may impact the availability of rental stock and the types of properties entering the market. The ongoing housing crisis and limited supply could influence demand for existing rental properties and affect inventory management.